“Broad Markets Move Sideways, BLUE and AVDL March Higher” Vista Partners Daily Market Recap For Dec. 10, 2019

The broad markets on Tuesday moved a bit sideways for the second day in a row we await the Fed’s last interest rate decision tomorrow as the US-China trade wars offered a glimpse of positive hope that the Dec. 15 increased US tariffs’ deadline could possibly be moved. The S&P 500 ended the day down -.11% as the S&P 500 real estate (-.7%) and materials (-.6%) sectors led the negative move while the energy (+.2%) and health care (+.2%) sectors were in positive territory. The Dow Jones Industrial Average ended down -.10%, the Nasdaq Composite lost -.07%, but the Russell 2000 moved a little higher +.13% at the close of trading. The “fear gauge” Vix (TVIX) ened slightly lower at $70.13/share at the close -.03%.

Economic Reports

No material economic data surfaced on Monday.

On Tuesday, we received the Nonfarm business sector labor productivity report which went down by -.2% in Q3. Unit labor costs rose by +2.5%. The NFIB Small Business Optimism Index for November confirmed a move higher to 104.7 from the October mark of 102.4.

Investing & Inspiration

“Earn as much as you can, save as much as you can, invest as much as you can, give as much as you can.” – John Wesley

Tomorrow

The Federal Open Market Committee (FOMC) will meet and share their final rate decision of the year.  It is widely expected that they will stay pat after three consecutive cuts. The Fed will also share their updated dot plot, policy statement, economic projections, and Fed Chair Powell’s press conference.

We will also receive a couple of economic points of interest in the Treasury Budget for November & the weekly MBA Mortgage Applications Index.